CINCINNATI and SALT LAKE CITY — CBRE has arranged an undisclosed amount of financing for the acquisition of a two-property seniors housing portfolio.
The borrower is a joint venture between CA Ventures and a global investment manager. The properties 204 units of assisted living and memory care, and are located in Cincinnati and Salt Lake City. Both communities opened within the last year.
CA Ventures developed both properties with another institutional equity partner and Senior Lifestyle Corp., which will continue to manage the properties under a third-party management agreement.
Aron Will of CBRE National Senior Housing arranged the three-year, floating-rate, non-recourse loan with interest-only payments for the full term. A debt fund provided the capital.